VAT Liquidation (tfgld1534m000)
This functionality is specific for Italy.
Use this session to view the VAT liquidation amounts.
After you generate a Final version of the VAT liquidation report in the Print VAT Book (tfgld1435m000) session, LN displays the various VAT liquidation amounts. You cannot change the amounts.
Field Information
- Financial Company
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The financial company for which you generated the VAT liquidation report.
- Tax Period
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The tax year for which you generated the VAT liquidation report.
- Tax Period
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The tax period for which you generated the VAT liquidation report.
- VAT Payable/Recoverable from previous year
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The VAT amount carried over from the previous period.
- VAT To Be Liquidated
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The amount payable to or claimable from the government.
- Collected Deferred VAT
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The sum of all bank transactions in the Tax Analysis (tfglf110) table concerning sales invoices and sales credit notes for the selected period, on which value added tax was paid.
- Paid Deferred VAT
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The sum of all bank transactions in the Tax Analysis (tfglf110) table concerning purchase invoices and purchase credit notes for the selected period, on which value added tax was paid.
- Previous Year Credit Used in the Period
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The credit amount of the previous year that was used in this period.
- VAT Payable/Recoverable
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The total VAT To Be Liquidated minus the Collected Deferred VAT plus the Paid Deferred VAT minus the Previous Year Credit Used in the Period amount.